30 November 2009
The Bolivian government and IDB have signed funding agreements totaling US$262mn to finance a number of development initiatives in the country, according to a communications official at IDB's Bolivian office.
Source: Business News Americas
November 27, 2009
Washington-based IDB has approved US$262 million in funding for projects in Bolivia that include the Misicuni multipurpose hydro project, state news agency ABI reported.
The loan includes US$171mn from IDB and another US$80mn in IDB-coordinated loans with third parties.
In May, Bolivia's President Evo Morales and Consorcio signed the contract to build the project's 120m-high, 170Mm3-capacity dam in Cochabamba which is due to be completed in 2011.
The Italian government and the Caracas-based Andean Development Corporation (CAF) are also financing the project which will also supply water for human use and irrigation.
The power component will require US$100mn and aims to supply the national grid. Works include two 40MW Pelton-type turbines, a 94 megavolt-ampere substation and 50km of 230kV transmission lines. A subsequent phase envisions increasing capacity to 120MW.